The Golden Compass follows the ever-expanding adventure of Lyra Bacquela as she travels north in search of a kidnapped friend. The story begins in Jordan College, Oxford, where Lyra is an average eleven-year-old girl who enjoys playing with her friend, Roger. One day, while snooping around Jordan College, Lyra accidentally learns about a mysterious substance known as Dust, which is attracted to adults but not to children. She also learns that the Dust has something to do with the snowy north.

Rumors soon begin about a group known as Gobblers, who kidnap children, take them to the north, and perform experiments on them. The people of Jordan College give little credibility to these rumors, until the Gobblers arrive in Oxford. Several children are kidnapped, and after an extensive search, Lyra returns home to find that Roger is also missing.